Is this city big enough for the Toronto Maple Leafs, a second team and the largest hockey stadium ever? Well, this isn't a new question but it's back on the table again.

Lindsay Dunn of CityNews reports that a new team called the Toronto Legacy Aces has arrived on the block. The Toronto Legacy Sports & Entertainment's Andrew Lopez announced this past Friday that a $5 billion private investment has been secured. This money will be used for a new mixed-use development in the Sheppard-Yonge area, which is where the proposed arena would be located.

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Toronto isn't the only city in North America that would house a second team in the NHL. Right now, both Los Angeles and New York City each have more than one stadium and team. As the fourth largest city on the continent, it wouldn't be surprising for Canada's biggest metropolitan area to welcome a second team.

While nothing is set in stone at present, this is the furthest the conversation has gone when it comes to discussion of a second team. Lopez hasn't talked things over with NHL commissioner Gary Bettman nor anyone else from the city, says Dunn.

Next week, Lopez says a proposal will be submitted to the city. Regardless, the real estate development will go ahead so long as it's approved by the NHL. If everything works out, 2021 would be the year the new team officially launches, according to Dunn. The team would play their first three seasons in Hamilton while the huge stadium is erected.